Yep. That said, for end users it's a fairly good story because consumer OSs have gotten very good at automatically adjusting clients' time zone based on geo-location. Just like when you fly to another country and the first thing that happens when you connect your laptop to the internet is you're offered to change your time zone to the local time zone. I assume that the same thing happens when you're in a place whose IANA time zone changes like your America/Punta_Arenas case or many others like it.
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